I have just gone through their half year statement and interested if anyone else knows what their cash position might be as of now?
Seems to me they must have about 10m left after all recent purchases and will be earning at least 50m+ for their 500k of Iron by April. With most big infrastrucutre costs sunk, they are looking pretty good to pay for their recent aquisitions and remain cash positive.
If, and it's a big if, MON and OLY deliver in the next quarter could we assume that we will be sitting on a significant portfolio of income producing assets?
If so, makes me think that low 90's isn't bad buying, but with plenty of risk around it. Said it was oversold yesterday and it looks like the market isn't really responding to all the announcements. Fair enough probably, but if it all comes together it's a pretty compelling case for a punt or longer term investment.
Life of mine agreement is just the insurance I suppose too.
Interested in thoughts
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